The 47-story Trump Tower in the city of Batumi will be built by the Silk Road Group under a licensing agreement signed during Saakashvili's visit to New York last year.

The Georgian conglomerate expects to have the necessary funding by the end of this year, with construction slated to start in early 2013, Saakashvili said during Sunday's presentation in Batumi.

Trump made clear that his interest in Georgia was due in large part to Saakashvili, who earned a law degree at Columbia Law School in New York and has sought close ties with the U.S. Trump said Georgia was attractive for investors because of its government's ability to think big.

In welcoming Trump to Georgia on Saturday, Economy Minister Vera Kobalia said the project would encourage more foreign investment.

Saakashvili oversaw steady economic growth after becoming president in 2004, but the economy has been hard hit in recent years by the global downturn and repercussions from the 2008 war with Russia.